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December 24, 2007 Stock Pick: Assisted Living Concepts, Inc. (ALC)

Stock Price: $7.71

Assisted Living Concepts, Inc. and its subsidiaries operate assisted living residences for seniors in the United States. The company offers general services, such as meals, activities, laundry, and housekeeping; support services, including assistance with medication, monitoring health status, coordination of transportation, and coordination with physician offices; and personal care, such as dressing, grooming, and bathing.

ALC reported revenue last year of $231.14 million with net income of $9.0 million. ALC is in line with 2006 revenue and ahead of 2006 net income. Net income for the first three quarters of 2007 has come in at $13.12 million.

ALC's operating cash flow has been extremely strong, so strong that the company has increased its share buyback to a maximum of $65 million. Through, December 17, the company has repurchased $4.7 million of its shares at a cost of $39.1 million.

ALC has a great, profitable business going that can grow even stronger. The assisted living is going to continue to grow.

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